Petrol price soars to near five-year high at Rs 75 a litre in Delhi

Petrol price in the national capital touched Rs 74.95 per litre on Tuesday, a fresh high, since it hit Rs 76.06 a litre in September 2013.

Prices rose for a second day in a row after Indian Oil Corp (IOC) resumed the dynamic pricing system on Monday after a 19-day halt.

In the other metropolitan cities of Kolkata, Mumbai and Chennai also, petrol prices were at fresh multi-year high levels of Rs 77.65, Rs 82.79 and Rs 77.77 a litre respectively, data from the IOC website showed.

The previous high in these cities was Rs 78.03 (Kolkata, August 2014), Rs 83.62 (Mumbai, September 2013) and Rs 79.55 (Chennai, September 2013) respectively.

Prices of diesel, which have been touching record levels, rose to a new high in all the metropolitan cities on Tuesday. It was sold at Rs 66.36, Rs 68.90, Rs 70.66 and Rs 70.02 per litre in Delhi, Kolkata, Mumbai and Chennai respectively.

This rise in prices of transport fuels comes amid continuous gains in crude oil prices globally. The brent crude oil is currently priced around $78 per barrel.